Key Note Article
Legal Issues for Businesses
This article aims to explore some of the legal issues that businesses face. Many small businesses start trading without really considering the issues that ought to be addressed. Often they will take a Tenancy or a Lease to a premises without taking legal advice and employ staff (sometimes starting on a part time basis) without realising the responsibilities that come with that decision. The success of a new business often depends upon the planning stage which takes place before the business considers opening its doors to the public or providing a service and a lack of planning can lead to business failure. Here are a few of the issues to be considered:
Regulatory Issues - You need to consider whether the type of business that you are operating requires some sort of permission from the Local Authority or from a Regulatory body before you can open your doors.
Naming your Business - The name of your business is very important and quite often a lot of time is spent thinking of snappy names that will stick in the memory.
Employing Staff - Many small businesses take on friends or family as staff and don’t give a lot of thought to the implications of having employees.
Obtaining your Premises - Whether you are entering into a short term business tenancy or a longer lease it is always worth obtaining advice.
Structure of your Business - There are a number of choices that you can make about how your business is structured.
Finally, whilst you may be excellent at producing the product you sell or the service you offer, most successful people concentrate on what they do best and use the expertise of others to make sure that the legal framework of their business is correct. Legal work is a little like dentistry, you can do it yourself but it is likely to be painful if you do.